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The global advertising industry is no stranger to disruption and turmoil. Agencies and media companies have endured everything from natural disasters to overthrown governments, but these scenarios rarely spill beyond national borders. The current outbreak of COVID-19, however, is different. Between widespread travel restrictions and a dense cloud of uncertainty, the global advertising machine is slowing to a crawl in some ways and rapidly pivoting in others. Some corners of the industry already have been hammered by the spread of the coronavirus that causes COVID-19. Several events have been canceled, and although South by Southwest is moving forward, a number of major brands have pulled out of the festival. Next to suffer will be the advertising production industry—a world ruled by tight deadlines, inflexible budgets and seamless travel—as its schedules are thrown into disarray. And most holding companies are mum, not wanting to spook investors. On the other hand, TV executives and media agencies are barreling ahead as the TV ad market remains strong, speculating that audiences could grow as consumers stay home. What’s clear is the large-scale disruption has the potential to transform the industry, forcing brands and agencies to adapt and consider options like letting staff work remotely, using local resources that don’t require international travel and creating virtual events that are more than just lifeless videoconferences. Could this period of uncertainty mark an inflection point that marketers and advertisers will look back on as a moment of turbulence and transformation? Adweek spoke with leaders about how the virus will affect four key parts of the industry: ad spend, experiential marketing, agencies and production companies.
Public backlash against Big Data is forcing advertisers to seek alternatives to the walled gardens. --- De-risking from the duopoly However, media buyers and independent ad tech, both buy- and sell-side, have made attempts to reduce their reliance on the industry’s biggest names. “A lot of the agencies are constantly evaluating where investments are going, and asking what exactly do they get in return,” said one media agency source, who requested anonymity because Big Tech is a client. “To make sure we’re not just consolidating into those two partners, we’re always trying to find the partners, vendors or publishes that we can work with that can replicate the output of those types of companies.” Recent years have seen several such initiatives led primarily by the independent ad-tech sector with the Advertising ID Consortium, The Trade Desk’s Universal ID push plus Prebid on the industry’s sell side. Rubicon Project CTO Tom Kershaw, who’s also co-founder of Prebid, said publishers want to reduce their reliance on companies such as Google both in terms of ad spend and software. “Things have changed over the last two years, as people want to take control of their actual tech stack. A lot of the advertisers want to have full visibility into the processes of how things are working, such as how they run,” he explained.
"We do advertising, but do it in the context of reinventing clients." Brian Whipple, the longtime CEO of Accenture Interactive, loves fishing; casting his lure into deep waters of the Atlantic. And from his Boston office, where since 2010 he’s run the world’s largest digital agency—to the tune of $6.5 billion in revenue in 2017—he’s reeled in some pretty big clients, overseen dozens of acquisitions and more recently, this summer, made big waves with the announcement that Accenture Interactive would offer marketers in-house programmatic services. Yet Whipple is not your garden-variety consultant. Yes, he grew up in the firm, starting his career there in 1987 and spending the next 18 years building up a knowledge base and Rolodex. But by 2005, he moved on to the agency world, with senior leadership roles at RAPP and Hill Holiday. It was here in agency-land where he saw an opportunity—and the future. Read it here: https://www.adweek.com/digital/how-brian-whipple-turned-accenture-into-worlds-largest-digital-agency/
Successful marketing is simply about understanding human behavior. This includes the way consumers think, how they learn and what propels them to make a decision. Applying psychology to marketing campaigns is central to measurable success. If you have ever made a purchase due to social pressure, fear of not getting a deal or discontent around possibly missing out on a shared experience, you know exactly what it feels like to be incentivized by the fear of missing out (FOMO). Although FOMO impacts decision-making for everyone, it’s especially prevalent among millennials, who are moving into their prime spending years and disrupting the way purchases (both physical and experiential) are made. Eventbrite, a global event ticketing company, found in its Millennials: Fueling the Experience Economy study that “FOMO drives millennials’ experiential appetite: Nearly seven in 10 (69 percent) millennials experience FOMO.” This is fueled by the fact these digital natives share their experiences across social media channels as a form of mass communication, value events and memories more than “stuff” and prioritize social gatherings in their schedules. So how does all of this apply to marketing? Here are some tips on how to create FOMO digitally to accelerate results from your marketing initiatives. Read more: https://www.adweek.com/creativity/5-ways-marketers-can-successfully-leverage-fomo-amongst-millennials/
As more streaming music services lean into automated advertising, Google is getting into the game with programmatic audio ads. The online advertising giant announced on Wednesday that it will begin offering programmatic audio ads through Spotify, SoundCloud, Tune In and Google Play Music. Starting this week, brands will be able to buy the ads through Google’s DoubleClick Bid Manager. According to Payam Shodjai, DoubleClick’s product management director, the company began testing last year with around 30 advertisers using the service in beta, but only disclosed MightyHive by name. Shodjai said around 25 percent of consumer time spent on mobile devices is now going to music, podcasts and other audio. “There is no single app that is used more than that activity combined on people’s phones,” Shodjai said. “So it’s a huge opportunity for us. We see demand ramping up quickly because it’s a channel that performs.” And as digital audio matures, publishers and advertisers are wanting the efficiencies they’ve come to expect from programmatic display and video ads.
We live in an age where everyone wants their social video content to be as shared and viewed as much as possible. Social videos have secured a constant place in our daily lives, and engaging content fills up our social feeds and conversations. While most think finding internet stardom is a stroke of luck (remember Chewbacca Mom?), smart marketers and brands shouldn’t leave it up to chance. There is a science behind the art of creating videos that capture our attention. Using these tools, you, too, can create social videos with the right chemistry.
CANNES, France—For its first time participating at Cannes, Patrón is coming to France to talk about data. While the brand is up for a few awards this week, Patrón is also working on some intriguing location targeting with Foursquare this summer. Using foot-traffic stats collected from 12 million Foursquare users over three years in 100 cities, the brand is matching up location data with what Patrón calls “taste” data to develop an algorithm that recommends drinks to bar and restaurant patrons. The location-based campaign builds on Patrón’s year-old Patrón Cocktail Lab effort to create a library of recipes and content, including an Amazon Echo skill. According to Adrian Parker, vp of digital for Patrón Spirits Company, 235,000 users have played with the platform since it launched.
They spent $120 on geo-targeted Facebook ads instead. CANNES, France–How do you make a splash at Cannes and land a major agency gig when you can’t cough up money or spare the time to actually attend the festival? Oscar Gierup and Kristina Samsonova, two students about to graduate from Miami Ad School, came up with an idea to reach agency leaders where they’re likely to be spending a good chunk of their time over the next week–on their smartphones and on Facebook. The duo created a series of sponsored Facebook ads in a move they hope will help get their portfolios in front of some of the industry’s biggest names. In all, they spent just $120 to pull it off. The best part of the stunt is that the ads are geo-targeted to run in Cannes, so only people in the area will be able to see them. Gierup and Samsonova also filtered their posts to specifically target people working in advertising or related fields.
How AI can help: Even today, big data and predictive analytics can not only reduce unbalanced frequency, but also deliver ads when people are most likely to want to see them. TV-aware campaigns can combine viewing data for linear TV with digital viewing data and then analyze it via AI tools for optimum predictive ad delivery. Notes SAS global director Raj Wilson, “AI can predictively optimize audience segmentation while buying media space.”
By creating content that embraces the individual, as opposed to trying to fit people into certain boxes, Wong is confident that publishers and advertisers will be able to reach audiences in a more effective way than before.
Facebook and other social platforms are great, but they shouldn’t be relied upon as the primary source of truth to inform future video decisions (which are coming as the format continues to surge).
An amazing 77 percent of the 3,975 marketers polled by Salesforce said that social can drive ROI (compared with just 31 percent last year).
The last several days were full of highlights from the realm of online marketing data. Here are 9 numbers that really stood out: 1.
Instagram last week unveiled its updated algorithm, which will reorder the images and videos users see in their news feeds based on their interests instead of how the posts were published chronologically.
When it comes to creating attention-grabbing Facebook campaigns and video, many marketers have a long way to go, according to Carolyn Everson, vp of global marketing solutions at Facebook.
Networks will have to wait a few months longer for full access to Nielsen's new Total Audience Measurement data, but in the interim, the company is preparing to share more information about usage of connected TV devices like Roku and Apple TV.
L'Oréal promoted a new line of makeup on Pinterest last year. Pinterest One year after rolling out Cinematic Pins, Pinterest says its animated video ads are getting users' attention as they scroll through their feeds.
Facebook is giving advertisers a glimpse behind the curtain of its marketing platform in order to better understand how ads perform and how they can better compete. Today, Facebook is introducing Delivery Insights, a tool that will help brands understand how their promotions are performing in Facebook's ads auction.
Spotify is introducing a mobile display ad format that it says will better catch the attention of its growing listener base. Starting today, the music streaming service is bringing Billboard—one of its most popular desktop ad formats—to mobile.
Never in her wildest dreams did Helen Pak think she would leave the advertising industry to do creative work for a technology company. Then, three years ago, while on set filming a big-budget commercial, the evp and co-executive creative director at Saatchi & Saatchi got a phone call out of the blue.
With more than 400 million monthly users and a growing number of advertisers, Instagram is adding an algorithm that reorders pictures and videos in users' feeds based on their interests.
At South by Southwest Interactive on Monday, Under Armour CEO Kevin Plank recalled crying at a tollbooth about 10 years ago while trying to explain to the attendant that he didn't have the $2 he needed to drive through.
Pinterest ads are getting more pointed. After 18 months of beta testing a self-serve platform that lets brands buy ads, the site is opening the tool to all small and midsize brands in the U.S. today.
February was—as GOP front-runner Donald Trump would say—absolutely yuuuge for presidential politics thanks to several state primaries and caucuses.
Wendy's has named VML its new creative agency of record without a review, ending its relationship with Publicis Groupe after nearly seven years. The Kansas City, Mo.-based shop, which is owned by WPP, had been working on the digital side of the Wendy's business since 2012, when it beat four other agencies in a review.
